is it ok to tell creditors about iva now

[dmss]

we have signed our iva agreement is it ok to tell creditors about iva now or should we keep paying token payments and spin em a bit of a yarn

[kezza]

Hi dmss

When applying for an IVA you usually have to send your creditors a letter confirming that it is ok for them to discuss your accounts that you hold with them with your IP. So usually, especially if you were no longer paying creditors you usually tell them why that is and if they needed any information to contact your IP

[steve532]

Hi Welcome to the site.
I dont understand your IP should have advised you to stop payments, when you decided IVA was the way forward for you. If you make token payments this could be seen as special treatment to some creditors and effect your creditors meeting.
Also your IP will inform your creditors, they are getting paid a lot of money to perform these tasks.
Be Lucky.

steve

[neverending]

Hi speak to the company arranging your IVA as they should have advised you to stop paying all your unsecured creditors.
Yes you can tell your creditors that you are proposing an IVA, when they chase you for non payments,and give them the details of your IP and company.Do not be bullied into paying anything to your creditors and use this time to get all your utility bills upto date etc.
Keep posting

[dms]

thanks for the response very helpful thanks[:)]